Three-Unit Residential Income
2671 Hampshire Road Cleveland Heights, OH 44106
For Sale
$325,000
MULTI_FAMILY - Cleveland Heights, OH
Property Size2,594 SF
Lot Size0.14 Acres
Price / SF$125.29
Days on Market141
Property Features for 2671 Hampshire Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Triplex
- Bedrooms
- 5
- Bathrooms
- 3
- Rooms
- Bedroom 1, Bedroom 4, Bedroom 5, Laundry Room, Bedroom 2, Bathroom 1, Bedroom 3, Basement, Bathroom 2, Bathroom 3
- Parking features
- Garage
- Standard status
- Active
- APN
- 685-09-039
- Size
- 2,594 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 5483
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Natural Gas, Baseboard
- Water source
- Public
Building Details
- Year built
- 1920
- Floors in Building
- 3
- Building materials
- Brick, Cedar, WoodSiding
- Roof type
- Asphalt, Fiberglass
Listing Agency:
Keller Williams Greater Metropolitan
(216) 839-5500
Listed By:
Sam Zimmer · License #2013004655
(216) 469-4635
Added: Mar 5
Changed: Jul 17
Last Checked: Jul 24 at 2:06AM
MLS# 5190385
Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This three-unit multi-family home offers separate living arrangements across three floors, with the first-floor unit currently vacant for an owner-occupant. The property includes hardwood floors and charming built-ins, along with a clean basement that provides storage space. A roof replacement was completed in 2012.
Located in Cleveland Heights, the property is described as about one block from Coventry and a short drive to the Cleveland Clinic, University Hospitals, and the University Circle museums.
For investors or owner-occupants, the current layout provides flexibility: move into the first-floor unit while the second and third floors remain occupied by month-to-month tenants paying $1,250 per month each. The combination of in-place tenant income on two levels and a ready-to-occupy first-floor unit may support a straightforward transition for buyers seeking to balance living space with rental revenue. The basement storage and maintained interior finishes add practical everyday value for long-term residents.
Located in Cleveland Heights, the property is described as about one block from Coventry and a short drive to the Cleveland Clinic, University Hospitals, and the University Circle museums.
For investors or owner-occupants, the current layout provides flexibility: move into the first-floor unit while the second and third floors remain occupied by month-to-month tenants paying $1,250 per month each. The combination of in-place tenant income on two levels and a ready-to-occupy first-floor unit may support a straightforward transition for buyers seeking to balance living space with rental revenue. The basement storage and maintained interior finishes add practical everyday value for long-term residents.
Key Highlights
- 3 occupied month‑to‑month units: 2nd and 3rd floors are leased at $1,250 per month
- 1st‑floor unit is currently vacant for potential owner‑occupant move‑in while generating income from upper units
- Roof replacement in 2012; asphalt/fiberglass roof with remaining useful life
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $42.0k | $16.20 |
| − Vacancy | −$2.7k | −$1.05 |
| EGI | $39.3k | $15.15 |
| − OpEx | −$11.8k | −$4.54 |
| NOI | $27.5k | $10.60 |
2,594 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$392.9K
$343.8K – $458.4K
NOI $27,504 @ 7.0% cap · market cap 8.46%
Second Best
Apartment 5plus
$366.3K
$320.5K – $427.4K
NOI $25,643 @ 7.0% cap · market cap 7.89%
Theoretical Best
Warehouse
$2.08M
$1.82M – $2.42M
NOI $145,490 @ 7.0% cap · market cap 44.77%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - First-floor unit is vacant while the second and third floors are occupied by month-to-month tenants.
Where is this triplex located?
The property is located at 2671 Hampshire Road Cleveland Heights, OH.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 3 occupied month‑to‑month units: 2nd and 3rd floors are leased at $1,250 per month; 1st‑floor unit is currently vacant for potential owner‑occupant move‑in while generating income from upper units; Roof replacement in 2012; asphalt/fiberglass roof with remaining useful life
